startup funding: ETtech Deals Digest: Startup funding drops 17% to $155 million this week


Startup funding in the first week of February 2024 was down about 17% from the same period a year ago, totalling $154.5 million across 27 deals.

Companies, across seed, early and late-stages, had raised about $185 million from 31 rounds in the period from February 3 to February 9, 2023, as per data from Tracxn.

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ETtech

The most significant amount of capital raised this week was in the early stage, at about $122.6 million, accounting for about 79% of the overall deal value. Seed-stage funding came next at $23.5 million, commanding 15%.

ETtech

Sequentially, the latest week amounted to an increase of about 125% in value terms, and up around 53% by volume.Notably, the latest week’s deals average about $5.72 million per deal in the week, versus $5.96 million per deal in the same week of February 2023, and $8.42 million per deal in the last week of January 2024.

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ETtech

Other top deals:

River: The Bengaluru-based electric two-wheeler maker raised $40 million in a Series B round of funding led by Yamaha Motor Co.

Lohum: The Noida-based battery tech startup raised $23 million in its Series B round of funding led by Baring Private Equity Partners.

Keus: The smart home automation company raised about $12 million in its first external round led by private equity player Oaks Asset Management.

OTO: The two-wheeler-focused lending firm raised $10 million in a funding round led by Japan’s GMO Venture Partners.

BigHaat: The agritech startup has raised $8.4 million in a pre-Series C funding round, with Ashish Kacholia and RBA Finance and Investment Company leading the investment.


Startup funding in the first week of February 2024 was down about 17% from the same period a year ago, totalling $154.5 million across 27 deals.

Companies, across seed, early and late-stages, had raised about $185 million from 31 rounds in the period from February 3 to February 9, 2023, as per data from Tracxn.

Elevate Your Tech Prowess with High-Value Skill Courses

Offering College Course Website
Indian School of Business ISB Product Management Visit
IIM Lucknow IIML Executive Programme in FinTech, Banking & Applied Risk Management Visit
Indian School of Business ISB Professional Certificate in Product Management Visit

ETtech

The most significant amount of capital raised this week was in the early stage, at about $122.6 million, accounting for about 79% of the overall deal value. Seed-stage funding came next at $23.5 million, commanding 15%.

ETtech

Sequentially, the latest week amounted to an increase of about 125% in value terms, and up around 53% by volume.Notably, the latest week’s deals average about $5.72 million per deal in the week, versus $5.96 million per deal in the same week of February 2023, and $8.42 million per deal in the last week of January 2024.

Discover the stories of your interest

ETtech

Other top deals:

River: The Bengaluru-based electric two-wheeler maker raised $40 million in a Series B round of funding led by Yamaha Motor Co.

Lohum: The Noida-based battery tech startup raised $23 million in its Series B round of funding led by Baring Private Equity Partners.

Keus: The smart home automation company raised about $12 million in its first external round led by private equity player Oaks Asset Management.

OTO: The two-wheeler-focused lending firm raised $10 million in a funding round led by Japan’s GMO Venture Partners.

BigHaat: The agritech startup has raised $8.4 million in a pre-Series C funding round, with Ashish Kacholia and RBA Finance and Investment Company leading the investment.

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